Personal Finance Essay

553 WordsAug 26, 20153 Pages
| | | Study Questions 2 Instructions Save the file in your Finance folder, and name it with Study, the section number, and your first initial and last name. For example, Jessie Robinson's study questions for Section 1 would be named Study1JRobinson. Answer the questions for each lesson on the same day that you read the lesson. Save the file before closing it each day. Then turn in your answers to the study questions at the end of the section. Review Lesson 4 of the Course Overview for instructions about turning in your study questions. Section 2 Study Questions (9.0 points) Answer each question fully. Complete sentences are not necessary. Lesson 1 (3.0 points) 1. What is renting? (0.5 points) pay someone for the use of (something, typically property, land, or a car). 2. What is a financial plan? (1.0 points) In general usage, a financial plan is a comprehensive evaluation of someone's current and future financial state by using currently known variables to predict future cash flows, asset values and withdrawalplans. 3. What is income? (0.5 points) money received, especially on a regular basis, for work or through investments 4. What is a projection? (0.5 points) an estimate or forecast of a future situation or trend based on a study of present ones. 5. What is a will? (0.5 points) expressing the future tense. Lesson 2 (3.0 points) 1. What is a tax? (0.5 points) a compulsory contribution to state revenue, levied by the government on workers' income and business profits or added to the cost of some goods, services, and transactions. 2. What is the Internal Revenue Service? (0.5 points) The Internal Revenue Service (IRS) is

More about Personal Finance Essay

Open Document